Latest news with #LanvinGroup
Fashion United
15-05-2025
- Business
- Fashion United
Struggles at Lanvin Group as parent company eyes asset sales
Fosun International's efforts to build a global luxury portfolio under its fashion arm the Lanvin Group, may be in flux. The Chinese conglomerate, which spent the last decade acquiring high-end brands including Lanvin, Wolford, and St. John Knits, is now reported to be open to divesting from some of its fashion investments, highlighting the challenges of translating financial ambition into fashion success. At the heart of these challenges is Lanvin, France's oldest couture house. Despite Peter Copping's well-received debut in January, the brand, once seen as the centrepiece of Fosun's fashion strategy that survived wars and revolutions, has struggled to regain relevance despite attempts at revitalisation. The New York Times said the brand had been on 'life support' since Alber Elbaz's ousting in 2015. It remains to be seen how well Copping's first collection will do at retail once it hits the shelves. Fosun took control of Lanvin in 2018 and later bundled the brand into Lanvin Group alongside other fashion houses, aiming to create operational synergies and prepare for a public listing. However, persistent underperformance, creative turnover, and branding missteps have hampered progress. A year of transformation In April, Lanvin Group CEO Zhen Huang offered a cautiously positive outlook. "2024 was a year of transformation for Lanvin Group. While market conditions were challenging, we made critical strides in strengthening our brands, optimizing our operations, and laying the groundwork for future growth. With our renewed creative leadership and disciplined execution, we are confident in our ability to navigate the evolving luxury landscape and deliver long-term value," he said. However, some industry observers remain skeptical, noting that unlike Burberry — where new CEO Joshua Schulman has taken a more introspective approach — Lanvin Group appears more focused on macroeconomic explanations than deep course correction. While it is easy to blame market conditions, the reality is that there's been poor stewardship, high turnover and a lack of clarity in design and operations. Burberry has faced similar pressures, but its leadership, along with creative director Daniel Lee, has been willing to make difficult changes. Will Lanvin Deputy CEO Siddhartha Shukla and Peter Copping make similar strides? According to reports by Miss Tweed, Fosun is now quietly open to sell not only its houses but also reportedly offloading tangible assets, such as buildings and production facilities, in an effort to raise capital and reduce operational costs. This signals not just cost-cutting but also a move away from long-term brand investment. The timing is particularly difficult, as global luxury demand has softened in key markets like China and Europe. A looming trade war and changing consumer priorities have made it harder for brands without a strong narrative or clearly defined identity to maintain relevance. Fosun's fashion strategy, once heralded as a bold push into the luxury space, is now being viewed by some in the industry as a case study in overreach. A deep understanding of European luxury is needed Creating a fashion group is not just about scaling up, of course. Without a deep understanding of what makes a brand special, you risk turning decades of heritage into something irrelevant. As sales decline and pressure intensifies, Lanvin's future hangs in the balance. Whether the brand — or its parent Group — will sell, double down on investment, or succeed in restoring market relevance remains to be seen. Much now rests on Peter Copping's Fall 2025 collection, which industry observers hope could be the spark Lanvin needs — or a final confirmation that the house has become a ghost of its former self.
Fibre2Fashion
02-05-2025
- Business
- Fibre2Fashion
China's Lanvin repositions amid FY24 revenue drop, aims 2025 recovery
Chinese fashion luxury house Lanvin Group has reported a revenue of €329 million (~$351 million) in fiscal 2024 (FY24), down 23 per cent year-over-year (YoY), reflecting a transitional year marked by creative evolution and strategic realignment amid market headwinds. The gross profit decreased to €183 million, reflecting a margin of 56 per cent, compared to €251 million in 2023 with a margin of 59 per cent. The decline in gross profit is primarily attributed to a drop in gross profit from one of its brands, Wolford, with increased costs related to the new logistics provider. Lanvin Group has reported revenue of €329 million (~$351 million) in FY24, down 23 per cent YoY, citing a transitional year of creative and strategic realignment. Gross profit fell to €183 million, mainly due to Wolford's increased logistics costs. Despite challenges in EMEA and Greater China, North America and Japan performed steadily. DTC sales made up 61 per cent of total revenue. The group continued its strategic store optimisation initiative, combining selective new retail openings with the consolidation of underperforming locations. This move reinforces its focus on core and high-potential markets, Lanvin said in a press release. It reported steady performance in North America and Japan, driven by strong contributions from St John and Sergio Rossi, while Europe, the Middle East, and Africa (EMEA) and Greater China faced headwinds due to broader luxury industry challenges. Despite regional disparities, the group's direct-to-consumer (DTC) channels remained resilient, accounting for 61 per cent of total sales. This underlines the effectiveness of Lanvin's market-focused strategy and its disciplined approach to retail network management. The group continued refining its retail footprint by consolidating underperforming stores while selectively opening new locations. Both Lanvin and Sergio Rossi achieved successful expansion in the Middle East. The adjusted EBITDA remained at loss for FY24, while the group made a significant effort to optimise the cost structure and enhance operational efficiency in this fiscal, the increase in adjusted EBITDA loss was primarily driven by a decline in gross profit, which was only partially mitigated by the reduction in operational expenses. Brand-wise, Lanvin reported a 26 per cent revenue decline to €83 million, with gross profit down to €48 million, though the margin remained steady at 59 per cent. Wolford's revenue declined 30 per cent to €88 million. Sergio Rossi saw revenue fall 30 per cent to €42 million, with margin pressures from fixed production costs, though cost-cutting measures helped offset some losses. St John's revenue fell 12 per cent to €79 million, but gross margin improved to 69 per cent due to better full-price sales and lower production costs. Caruso recorded a milder 7 per cent revenue decline to €37 million, with stable gross profit, supported by strong growth in its branded business. In 2025, Lanvin Group is poised for a robust recovery and remains unwavering in its long-term vision, driven by operational discipline and a surge in creative momentum. Under the leadership of the new executive president, Andy Lew, the group is enhancing its management capabilities and establishing a second headquarters in Europe to further streamline the organisation, added the release. The group further said that it will continue to maintain a strategic focus on key areas and core products, while exploring undiscovered regions and emerging product categories to unlock new growth opportunities. Retail network optimisation will continue to be a priority, with efforts to refine the store footprint, simplify the operations and concentrate on core business units. '2024 was a year of transformation for Lanvin Group. While market conditions were challenging, we made critical strides in strengthening our brands, optimising our operations, and laying the groundwork for future growth. With our renewed creative leadership and disciplined execution, we are confident in our ability to navigate the evolving luxury landscape and deliver long-term value,' said Zhen Huang, chairman of Lanvin Group . Fibre2Fashion News Desk (SG)
Fashion United
01-05-2025
- Business
- Fashion United
Wolford postpones publication of annual financial statements
Austrian clothing supplier Wolford AG had planned to present its final results for the 2024 financial year on Wednesday. But that did not happen. The company announced late on Wednesday afternoon that the publication of the audited annual financial statements and the audited consolidated financial statements would be 'postponed by a few days'. It is now expected that the corresponding financial reports will be 'completed and published in the next few days'. No reasons were given for the delay in the brief announcement. Wolford suffered a 30 percent drop in sales in 2024 At the end of February, the clothing supplier had already admitted that, according to preliminary figures, it had suffered a 30 percent drop in sales to 88 million euros last year. Wolford explained at the time that 2024 was 'characterised by challenges and upheavals, in particular macroeconomic uncertainties and logistical disruptions'. For example, the change to a new logistics partner led to delays in product deliveries. 2024 was a difficult financial year overall for the Wolford parent company Lanvin Group. The Chinese group announced on Wednesday that its loss was significantly higher than in the previous year. This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@
Yahoo
30-04-2025
- Business
- Yahoo
Lanvin Group Sales Fall 23% in Transitional Year
Lanvin Group might have drummed up some creative excitement with key hires at Lanvin and Sergio Rossi, but the company's financial results showed the strain of what was described as a 'transitional year.' Revenues fell 23 percent to 329 million euros last year. More from WWD Art Deco Turns 100: How Will You Celebrate? Peter Copping and Tory Burch to Be Honored by SCAD Lanvin Group's Revenues Fall 23% in 'A Transitional Year' And while a mix of pricing discipline, higher direct-to-consumer sales and inventory management helped hold gross profit margins at 56 percent, down only slightly from 59 percent, it wasn't enough to save the bottom line. Losses widened to 189.3 million euros from 146.3 million euros a year earlier. Adjusted losses before interest, taxes, depreciation and amortization widened to $92.3 million from $64.2 million. But some of that represents organizational and operational changes at the company, which also owns Wolford, St. John and Caruso. David Chan, executive president and chief financial officer of Lanvin Group, said on a conference call that those adjusted losses included 14 million euros to 18 million euros to integrate Wolford's logistics as well as 5 million euros to 10 million euros for the company's 'creative transition.' Without those costs, adjusted EBITDA losses were consistent with 2023 results. The company certainly has been busy. Veteran designer Peter Copping became artistic director of the Lanvin brand in September. Paul Andrew was named creative director of Sergio Rossi in July. And St. John Knits' chief executive officer Andy Lew was named executive president of the whole group in January. 'Financially, Lanvin demonstrated remarkable resilience,' said Lew on the call. 'Despite market pressures, we maintained a stable gross profit margin through disciplined cost control and inventory optimization. 'We're building a dynamic leadership team, combining industry veterans and fresh perspectives to foster innovation and rapid decision making,' he said. 'Our new European headquarters based in Milan will enhance regional oversight, streamline operation and traction relationships with key stakeholders.' The company will also continue to optimize its store base and work to reduce working capital. 'As we enter 2025, we do so with optimism,' Lew said. 'Peter Copping's new collection, Wolford's [75th] anniversary and Paul Andrew's vision for Sergio Rossi are just the beginning. With a revitalized team we're poised to turn this pivotal moment into growth.' Lanvin raised more than $150 million in cash going public in a SPAC deal in late 2022. But it has never really found its footing on Wall Street, where the stock fell almost immediately after debuting at $10. On Wednesday, shares of Lanvin were down 2.7 percent to $2 in midday trading, leaving it with a market capitalization of $234.6 million. Best of WWD Harvey Nichols Sees Sales Dip, Losses Widen in Year Marred by Closures Nike Logs $1.3 Billion Profit, But Supply Chain Issues Persist Zegna Shares Start Trading on New York Stock Exchange
Associated Press
17-02-2025
- Business
- Associated Press
Lanvin Group to Report 2024 Full-Year Preliminary Revenues on February 28, 2025
NEW YORK, Feb. 17, 2025 /PRNewswire/ -- Lanvin Group (NYSE: LANV, the 'Group'), a global luxury fashion group, today opened registration for its 2024 revenue results conference call. The Group will release its unaudited revenues for the full-year 2024 on Friday, February 28, 2025. On the same day, at 8:00 a.m. Eastern Standard Time (9:00 p.m. China Standard Time), the Group will host a conference call and webcast to discuss the released results and provide an outlook for 2025. Management will refer to a slide presentation during the call, which will be made available on the day of the call. To view the presentation, please visit the 'Events' tab of the Group's investor relations website at All participants who would like to join the conference call must pre-register using the link provided below. Once the registration is complete, participants will receive dial-in numbers, a passcode, and a registrant ID which can be used to join the conference call. Participants may register at any time, including up to and after the call starts. A replay of the conference call will be accessible approximately one hour after the live call until March 07, 2025, by dialing the following numbers: US Toll Free: 1-877-344-7529 International Toll: 1-412-317-0088 Canada Toll Free: 855-669-9658 Replay Access Code: 4193525 Additionally, an archived webcast of the conference call will be available on the Group's investor relations website at About Lanvin Group Lanvin Group is a leading global luxury fashion group headquartered in Shanghai, China, managing iconic brands worldwide including Lanvin, Wolford, Sergio Rossi, St. John Knits, and Caruso. Harnessing the power of its unique strategic alliance of industry-leading partners in the luxury fashion sector, Lanvin Group strives to expand the global footprint of its portfolio brands and achieve sustainable growth through strategic investment and extensive operational know-how, combined with an intimate understanding and unparalleled access to the fastest-growing luxury fashion markets in the world. For more information about Lanvin Group, please visit and to view our investor presentation, please visit Enquiries: Media Lanvin Group Ingrid Zhou [email protected] Investors Lanvin Group Coco Wang
